Investment in Private Irish Companies Breaks The €1bn Mark
Liam Kiely
Liam Kiely

The level of investment into privately owned Irish companies in key sectors such as technology, life sciences and food has broken the €1bn mark in the year to 31st March. This represents the largest investment in private Irish companies in a 12-month period to date and is a significant milestone, up from approximately €820m on the previous year.

In the Irish Venture Capital Association (IVCA) “VenturePulse” report on funding for the first quarter of 2018, deals to the value of €332m were announced – if continued this rate would make 2018 a record year for funding for companies in Ireland. Admittedly, several large transactions were included in this: AMCS in Limerick (a technology business for the waste and recycling industry) raised €100m, and our neighbour on St. Stephens Green, software company Intercom, also raised €100m. The valuation of each company is now estimated to be in the region of €1bn. It is very encouraging to witness the new wave of success being achieved by Irish entrepreneurs. Other significant and large transactions were a €40m raise by the Conor Hanley led Fire 1, a life sciences medtech play, and the food business Perfect Day which attracted investment of €25m from a consortium of investors that included Temasek – the Singaporean sovereign wealth management fund.

Similarly indigenous life sciences companies continue to attract capital. Sigmoid Pharma recently announced an investment of over US$63m – though this figure will be counted in the Q2 2018 data. Food science business Nuritas raised €18m over the last year. This sector in Ireland continues to attract very high quality investors and big rounds: Iterum Therapeutics raised almost €58m in a round that included more than 8 different leading global life science investor groups.

Technology continues to feature strongly in terms of the number of transactions even if life sciences has had more headline-winning large deals. Cubic Telecom raised more than €40m as it continues to have the backing of a number of large car manufacturers. Satellite technology company Arralis raised €50m, and the semiconductor company Decawave closed on a US$30m round in Q1.

Cantor Fitzgerald continues to be supportive of these key sectors and is keen to use its global, and in particular American, distribution network for companies in Ireland. We will be announcing a number of transactions for 2018 as the year progresses and are interested in hearing from businesses seeking to raise capital from domestic or international sources. If you are seeking funding for your business, contact our corporate finance team today on 01 633 3800 or email Liam at lkiely@cantor.com.

To speak with a portfolio manager or account executive today, please phone the Cantor Fitzgerald dealing desk on 01 633 3633.

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